DD Support Board and Research Team

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More Insiders Dump FaceBook NASDAQ:FB


2 of America's smartest market players, Warrenn Buffett has said he will not buy FaceBook, and Lloyd Blankfein of GS who is happy to sell FaceBook.

Goldman Sachs Group Inc. (NYSE:GS) will sell 28.7 million of the 65.9 million shares they own, more than twice the amount planned.

The shares are being offered in a range of $34 to $38 apiece, meaning the stock being sold in this week’s IPO is valued between $975 million and $1.09 billion. It seems that price is very attractive to insiders as they palm off large chunks of their holdings to unsuspecting retail investors.